Australia: Real estate market shows recovery signs

Home buyers are expected to become more active over the next three years as conditions in the property market improve, a report says. The Residential Property Prospects, 2012 to 2015 report from economic forecaster BIS Shrapnel says NSW and the resource-rich states of Queensland, Western Australia and the Northern Territory are already showing signs of recovery.
However, the rest of the country - Victoria, South Australia, Tasmania and the Australian Capital Territory - will lag behind because of what the report says is an emerging excess of housing………………………………………..Full Article: Source